Bitcoin rose above $62,000, buoyed by the U.S. Federal Reserve's 50 basis-point rate cut on Wednesday. Reductions in borrowing costs are traditionally a bullish indicator for risk assets such as cryptocurrencies, and easing cycles have historically coincided with surges in BTC's price to all-time highs. Bitcoin has added about 4.35% in the last 24 hours while the digital asset market at large has risen over 5%, as measured by the CoinDesk 20 Index (CD20). Leading altcoins ETH and SOL lead the gains, up 5.8% and 7.4%, respectively.